Intech Investment Management LLC Trims Stock Position in JPMorgan Chase & Co. $JPM

Key Points

• Intech Investment Management LLC reduced its ownership of JPMorgan Chase & Co. by 7.0%, selling 15,702 shares, and now holds 209,260 shares valued at approximately $51.33 million.
• Several analysts have updated their price targets for JPMorgan Chase & Co., with Morgan Stanley raising its target to $298.00 and Baird R W downgrading it to a "strong sell" rating.
• Despite recent fluctuations, JPMorgan Chase & Co. reported earnings of $4.96 per share, exceeding expectations, but its revenue saw a 10.5% decline year-over-year.

Intech Investment Management LLC lowered its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 209,260 shares of the financial services provider's stock after selling 15,702 shares during the quarter. JPMorgan Chase & Co. comprises approximately 0.5% of Intech Investment Management LLC's investment portfolio, making the stock its 27th biggest holding. Intech Investment Management LLC's holdings in JPMorgan Chase & Co. were worth $51,331,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. during the 1st quarter worth about $28,000. University of Illinois Foundation bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $30,000. Curat Global LLC bought a new stake in shares of JPMorgan Chase & Co. in the first quarter valued at about $33,000. Measured Risk Portfolios Inc. bought a new stake in shares of JPMorgan Chase & Co. in the fourth quarter valued at about $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in JPMorgan Chase & Co. in the 4th quarter valued at approximately $54,000. Institutional investors own 71.55% of the company's stock.

Insider Transactions at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $297.94, for a total value of $2,830,430.00. Following the sale, the director directly owned 82,207 shares of the company's stock, valued at $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.47% of the company's stock.

JPMorgan Chase & Co. Stock Up 0.4%

NYSE:JPM traded up $1.32 on Friday, hitting $306.88. The stock had a trading volume of 6,845,781 shares, compared to its average volume of 9,623,702. The business's fifty day moving average is $293.72 and its 200 day moving average is $266.98. The company has a market cap of $843.84 billion, a PE ratio of 15.75, a P/E/G ratio of 2.00 and a beta of 1.13. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.25. JPMorgan Chase & Co. has a 52 week low of $202.16 and a 52 week high of $307.55.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last posted its earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping the consensus estimate of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion for the quarter, compared to analysts' expectations of $43.76 billion. During the same quarter last year, the firm earned $6.12 EPS. The company's quarterly revenue was down 10.5% compared to the same quarter last year. On average, equities research analysts expect that JPMorgan Chase & Co. will post 18.1 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on JPM. HSBC reissued a "reduce" rating and issued a $259.00 target price on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 8th. Hsbc Global Res lowered JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Piper Sandler reissued an "overweight" rating on shares of JPMorgan Chase & Co. in a research report on Tuesday, July 15th. Phillip Securities downgraded JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised their price target on JPMorgan Chase & Co. from $320.00 to $325.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $291.67.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.